United Leasing & Finance closed a $350 million, multi-year senior secured revolving credit facility with an accordion expansion to $475 million with Bank of America as agent.
This transaction incorporates a syndication of lending institutions including US Bank, BB&T, Fifth Third Bank, Northern Trust and Old National Bank. United will use this facility to further fund its continued growth plans.
“The renewal and expansion of our revolving credit facility demonstrates the continued partnership and support of our company’s business model by our bank group,” said Rick Schulz, executive vice president and chief financial officer of United’s parent company United Companies. “The increased commitments from our existing bank partners positions the company well to grow our lease and loan portfolio over the next four years.”
United Companies is a privately-owned corporation founded in 1964 and is headquartered in Evansville, IN. It is comprised of United Leasing & Finance, Professional Transportation and the Romain Automotive Group.